Canadian Politics Today

Rent is literally throwing your money away.

Even if there's a market correction in Toronto, it's the safest housing market in the country and a future-proof investment.  Something like 70% of immigrants go to Toronto, so demand will always be there for many decades to come & they'll never be able to build houses fast enough to keep up (condos, well who knows, still doubtful).

Worst case is a correction, your house goes down in value, maybe you could renegotiate your mortgage for less, then value goes back up eventually.  Market has cooled a bit so I think you're fine, and no correction is worth throwing away 36k a year on rent.